why organization is important in business

Published by on November 13, 2020

It is not simple organising function of management, it is more than that. Xaxx holds a Doctor of Philosophy in art history from the University of Manchester in the U.K. iii. Besides, the administration classifies the activities of the business department-wise and appoints the officers, assistants, supervisors, executives to facilitate the achievement of objectives. Privacy Policy 9. Sound organisation structure stimulates creative thinking and initiative amongst organisational members by providing well defined patterns of authority. Running a successful business calls for proper management of financial and organizational data and statistics with quality information systems. A business plan is important as it is the first step. There will be a sufficient scope to try new ideas in improving the working of the organisation. with clearly defined jobs, authority and responsibility, resulting into reduction in conflicts and chaos in the organisation. xiii. People know that they are supposed to do, well in advance. Efficient organisation offers the following benefits: 1. These would create utter confusion, chaos and conflict. Unsound organisation becomes the breeding ground of dishonesty, whether in matters of effort or of money. Organisational structure encourages prompt decision-making and effective control through decentralization. Business Development vs. The order in the structure of the job positions and their hierarchy will help the organization to run without any chaos. Organisation creates the relationship between top level executives and lower level staff members. A good organisation helps in proper assignment of jobs, gives due credit to all the employees, reduces conflicts, chaos and duplication of work. The initiative and creativeness encouraged in the organisation will make it dynamic and responsive to the new situations. Persons are allowed to try new ideas for improving upon their work. It helps in optimum use of equipment, machinery etc. It responds in time to the changes in the environment and thereby justifies its existence. It prepares them to take more responsibilities whenever need arises. That is, if there is no organization there is nothing but chaos - which can’t be managed. It is the foundation upon which the whole structure is built; which contribute to the success and survival of the enterprise. Its principles are applied primarily in attempts to make businesses operate more effectively.”. The assignment of responsibilities among various persons for earring out different functions will be essential for making the plans effective. There is a need for coordinating the working of various segments. Encourages creativity and initiative – A sound organisation encourages creativity and initiative amongst its employees. Allen observes that “A properly designed and balanced organisation facilitates both management and operation of the enterprise. Published on November 10, 2015 November 10, 2015 • 230 Likes • 18 Comments © Management Study Guide Important of finance for business organizations. The organisation should be flexible to incorporate all new requirements. Normally, these help remove corruption, secret and influence. It ensures that every individual is placed on the job for which is best suited. With the growing concepts and complexities of large scale business, the need and importance of organisation has grown substantially. It increases management’s efficiency and promptness, avoids delay and duplication of work and motivates the employees to perform their job efficiently. According to Investopedia, “Organizational behavior is the academic study of the ways people act within groups. It also encourages new and automatic techniques of production, control devices and data processing.

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